Fare paying commuters were outraged when the story broke in April that the rail firm had allowed him to quietly settle the allegations without being prosecuted and keep his identity secret.

But officers at British Transport Police read the story - and started a probe.

The news also came to the attention of City watchdog the Financial Conduct Authority, which Mr Burrows was registered with.

It started its own investigation over concerns that his actions showed a lack of integrity, that could make him unsuitable for City work.

But it wasn’t until last week that he warned bosses at asset management firm BlackRock – who knew nothing of his fare-dodging shame – that they might be getting a call from the regulator.

The married father of one was suspended from his job as a managing director and when BlackRock pressed him on the nature of the investigation he quit.

His commuting scam was uncovered last year when a ticket inspector at London’s Cannon Street station, close to Mr Burrows’ office, saw him swiping through the ticket barriers with his pre-paid Oyster travel card.

The inspector realised Mr Burrows had been charged only £7.20 – the modest penalty imposed when a passenger has failed to swipe in at the start of a journey.

Mr Burrows admitted having failed to use his Oyster card to tap in for five journeys between London Bridge – where he got off his train from East Sussex – and Cannon Street, which should have cost him just £2.30 a time.

However, a probe revealed that until 2008 Mr Burrows had been buying an annual season ticket from Stonegate, which has no ticket barriers, to Cannon Street, which costs around £4,500 a year for standard class.

But he had then suddenly stopped buying season tickets despite continuing to work in London, apparently only paying £7.20 for the brief final leg of his long train journey.